March 28, 2009

IOC gets clearance for Rs 30 bn coker plant at Haldia

KOLKATA: Indian Oil Corporation has received clearance from the ministry of environment and forest for installing its proposed Rs 30 billion delayed coker plant at Haldia in West Bengal, reports Economic Times.The company said that about 82 acres has already been acquired from Hindustan Fertilizer Corporation (HFCL).

However, the entire 82 acres will not be required and plans include setting up a petrochemical plant. The IOC board will be working on the exact quantum of investment for the plant. Shares of the company closed up Rs 0.95, or 0.24%, at Rs 396.75. The total volume of shares traded at the BSE was 34,655 (Friday).

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